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the kinds of revenue from the wealthiest americans to help the economy grow and achieve deficit reduction and this puts us on a path towards a better economy. >> [inaudible question] what will he do at this moment? >> i would simply redirect that question to the republican leaders, who to this day, have not put forward any proposal on how they would achieve revenues and address the issue on the top 2%. there is no other way to do it, there is no other mathematically sound way to do it. making vague promises about achieving revenue through capping deductions were closing loopholes, it simply doesn't add up to a serious proposal. we haven't heard which deductions they would cap or which loopholes they were close. what is true is that other proposals that have been put forward include attempts to raise revenue only through closing loopholes and limited deductions can only achieve this if the middle class gets stuck with the bill. or if you have a proposal that is wildly limply unfeasible because it suggests that we would wipe out charitable deductions. it is simply impossible and getting som
in a winner and a loser. >> our ultimate goal is an agreement that gets our long-term deficit under control in a way that is fair and balanced. >> if the president really wants to reach an agreement, he needs to be talking with members of his own party, right here in washington, trying to broker an agreement. not out there firing up crowds and giving speeches. >> we all know that we've had this spending crisis coming at us like a freight train. and it has to be dealt with. in order to try to come to an agreement, republicans are willing to cut revenue on the table, but it's time for the president and democrats to get serious about the spending problem that our country has. >> but the point is, there is no economic growth being discussed in the fiscal cliff argument, the solution -- there is no economic growth. not possible with what's being proposed. in fact just the exact opposite. obama does not care about economic growth. he cares about wealth transfers, redistribution. >> it's obvious that he's going to have to stand behind some significant changes in entitlements, and i think what they
the deficit we have. the truth is, if you want to balance the budget, which i do, you have to have increased revenues and you have significant spending cuts. and you have said many times on this program that raising taxes on rich people is not enough to deal with the deficit. you are right. the truth is, the best thing we could do is go over the fiscal cliff. we have the same tax rates that we have when bill clinton was president. significant cuts in defense and also significant human services can you tell us. >> katie, let me ask you, before you respond to what governor dean is saying. there is logic to what howard dean is saying. i don't happen to agree with it. but i know where he's coming from. katie, let me ask you this -- katie can't hear me. we'll wait for her to get back hooked in. howard, what about the notion that i'm posing tonight -- i've said this a few times -- republicans better be careful. they're not going down your road and the democrats aren't going down your road. you have middle class tax cuts for the democrats and it sometimes sounds to me as an old reagan conservative
who actually came up with a plan to cut the deficit, a plan that everyone hailed as magnificent but no one wanted to adopt. >>> joining me now is cnn contributor will cain. he leans right. good morning, will. >> good morning. let me tell you something. you said the popularity of gangnam style knows no limits. i beg to differ. >> you do? >> i think we just found its limits, when 8-year-olds start doing gangnam style you can count on its popularity decreasing. we're about a year away from it being makarena. >> trying to get two sides come together to come to a deal on the fiscal cliff. >> i don't know about young people's abilities to force cats and dogs and democrats and republicans to come together to find a deal. he had a much more profound message than just simply dancing in that clip, in that psa essentially. he was trying to alert young people to the fact that old people, bluntly, are organized. look at the army of aarp representatives that ensure that programs like medicare and social security, programs that take up something like 50% of our federal budget will remain intac
? >> reporter: scott, this republican counterproposal today is long on reducing the deficit and saving big on medicare, but it leaves the two sides still hundreds of billions of dollars apart and they are not close on the basic approach to solve the fiscal cliff. in a letter to the president, house republicans called their offer a fair middle ground. it's a ten-year framework that cuts the deficit by $2.2 trillion. it includes $600 billion in health care cuts-- mostly medicare and medicaid-- $300 billion in other mandatory spending and $300 billion in cuts to all other federal spending. by contrast, the president has proposed around $600 billion in cuts to all entitlements, including medicare and he'd reduce other federal spending by $100 billion a year. the president has also proposed spending $50 billion in new stimulus and republicans have refused to consider it. the biggest difference by far is in how to raise new revenues. republicans would raise $800 billion by reducing tax loopholes, not with a tax rate increase. the president would double new revenues to $1.6 trillion, with most of
to meet his target of eradicating the federal deficit by 2015 as well as securing a fall to gdp ratio. also expected further pressure with a cut to its growth forecast. steve is braving rather inclement british winter weather outside the houses of parliament. >> lovely. >> i know you like it. how much is it going to be raining on george osbourne's parade? >> it's going to rain on his parade. you just nailed it, ross. three things which are going to come up today, which he has very little control over. one is that obr reckoning on the uk economy. thought only back in march it was going to grow -- pain a negative growth for the year. next year they thought it was going to be 2% growth. it's probably only going to be 1%. in terms of those two targets you mentioned, eradicating the structural deficit in a five-year period, that's going to have another couple of years. >> right. now, there we go. you can see jim there in egypt. i wonder whether we should just go as we've decided to cut to him or maybe we can bring steve back. right. we'll try and reestablish steve. we will be going to jim
reagan on what social security and medicare have nothing to do with the deficit? have you heard that clip? >> bill: no. i know that's the truth but i haven't heard that clip from ronald reagan. try to find it, dan. yeah. he said it in his day. it was true then. it is true today. >> that's right. he says even if you pull that money, if you took money from them, it wouldn't go to reduce the deficit. so if you can get that clip, i think he was running against bob dole or somebody. i forget who it was. >> in the primary is. >> yeah. we will try to find it. i am interested in that. >> that's the thing with the republicans today even though social security has may nottedy of money if we would stop stealing from it. it's not going to expire anyhow. i mean run out of money until it rungs short of money until something like 2035 and even then, it would pay most of the benefits. it's a non-issue of dealing with the debt crisis. but republicans hate social security. they've always wanted to abolish it ever since the days of franklin roosevelt and they are t
the president will do in terms of cuts. where are concerned about the deficit. i believe we will get there. i really do. >> you are a perennial optimist. you make everything seem sunny. we are at a stalemate. republicans do not want to raise taxes and democrats to know what to -- do not want to cut spending. >> the president has the political upper hand. if nothing happens, the tax rates do expire as is and they go up and the sequestration of takes place. he can vote -- publicly blame that on republicans to. he would have the upper hand. policy-wise east as -- he has to combat and ask for an increase in the debt ceiling. he knows that if he sours the atmosphere right now that it would be difficult for him to get an increase in the debt ceiling in a couple of months. i believe this motivation for both of us to say let's cut out all the political posturing and make a deal. we realize as professionals will have to get it done. >> what are you opposed -- why opposed?you >> taxes have been 18% of gdp. they're down now because of a question of rates but because of the economy. >> in sharing the bur
willthought to balance not be r. ways to reduce the deficit never are. but we must act together. when you look for savings, it is fair to local to the 1%. >> with multiple forecasts being downgraded, it has now become an issue about competence. they argue not only has the chancellor failed, but failed on his own terms. >> it has been completely derailed. the one test they set for themselves, balance the books and get the debt falling by 2015, that is now in tatters. >> after all, the facts and figures of the chancellor's statement -- after all of the facts and figures of the chancellor's statement, we are left with a feeling of malaise. >> you are watching bbc world news america. still to come, aero controversy at the hospital after the duchess of game birds -- the after information on the duchess of cambridge is released to two is jockeys. >> in bangkok, thousands of thais turned out to catch a glimpse of the mark on his 85th birthday in a rare public appearance prepare aero controvy at the hospital after the duchess of game birds -- the after information on the duchess of cambridge -- appear
this is the target. $500 billion a year in reduced deficit. and we're going to get there. >> bill: 500 billion a year you would reduce. >> absolutely. >> bill: i would double that i would do a trillion. >> you can't quite get there i think you can get. >> bill: what if i sold rhode island then i could probably get that. [ laughter ] >> bill: chinese would buy it? >> is chafee still going to be government after you sell it. >> bill: who cares. >> he is damaged goods after you took care of him last night. >> bill: i'm trying for a trillion dollars to cut the debt every year. not the deficit. the debt. i'm trying to get enough money in here so that we can go from 16 to 15 to 14, you see? >> we get rid of a trillion dollars very quickly by taking a half trillion a year. >> bill: what you just said is how you get rid of it. you raise the retirement rate for social security for a couple of years. >> medicare as well. >> bill: not for people who are over 45. under 45 or maybe 48. but the people who bought into the system. >> you are already into the details. and we're losing the parameters here. >> bill: i'
in deficit in this state now for a decade and, i don't believe those promises either. there has been some cutting but it is cutting after there was enormous spending way beyond what was permitted by the constitution. i mean deficit spending is a violation of the state constitution. do they care about that in sacramento? they blow right by it. neil: but you don't think what is going on here now, governor, governor davis in a second, is a harbinger? in other words maybe voters here as they have elsewhere, rightly or wrongly are saying you know what? we cut a lot or tried to cut. we never make much progress on it. i guess only thing to do to avoid fiscal armageddon is just hike taxes. we hope it is not on us. we'll start going after the rich. >> that is number one class warfare. and number two you keep piling up the debt. ultimately you're in a position, as we are in today at the federal level, where most of the debt isn't even on the books. neil: that's right. >> i mean what is said to be the national debt is about one fifth of the actual national debt. neil: you're right. unfunded liabilit
a trillion dollars in cuts. revenues are needed and job creation is essential to reducing the deficit. >> reporter: now one weapon that the administration has at its disposals treasury secretary timothy geithner could tell companies to freeze the withholding rates for those making up to $250,000. i should be clear that geithner has not threatened to do so, in fact he's down-playing it. but if the congress and the white house fail to get a deal geithner could act on his own in the new year to freeze withholding rates for those making up to 250k. jon. jon: interesting. mike emanuel in the capitol building, thank you. jenna: the president's opening bid to avoid the fiscal cliff, already called a none starter by republicans including this $1.6 trillion in new taxes. 400billion in spending cuts, tbd specifically on that. a little extra cash for infrastructure spending, republicans call that stimulus. and a plea for new powers to raise the debt ceiling without having to go directly to congress. joe trippi is howard dean's former campaign manager and a fox news contributor. good to see you t
balanced approach to reducing the deficit. here is a house republican on higher rates. >> republicans are willing to make sure we don't go over this fiscal cliff but at the same time don't harm this economy. what has to happen here if the president shows a little leadership we are willing to stay in the room and stay here and we are willing to get this done. that's why you saw a proposal that is raoeubl reasonable that meets his criteria. >> reporter: steny hoyer said in the next few days we will see substantive movement in private to get this done. jenna: we'll continue to watch the play-by-play, mike, thank you. jon: right now we are continuing to await a speech by former president george w. bush, the speakers are taking to the podium there to get ready to introduce the former president. he is set to address a conference there in dallas, where he will spotlight the positive impact of immigration on u.s. economic growth. this as the g.o.p. looks to attract more hiss to the party. meantime mr. bush's father, former president george h.w. bush is spending another day in the hospital bei
of how we fix our national deficit. as you well know, we face the fiscal cliff, a series of tax hikes and spending cuts that many people think if they go into effect will put the country into recession. yet we heard the treasury secretary tim geithner say the president is willing to see the country go off the fiscal cliff if republicans do not accede to his demands. >> it's probably pretty real. but you can't get to where we need to go by cutting spending, that won't cut it. you're going to destroy a fragile economy. you can't get there by taxing your way into it and you can't grow your way out of this. you have to have a blend. when you have leaders of parties and people from the administration saying i think it will be to the advantage of the democrats to go off the cliff or i think it will be advantage to the republicans to go off the cliff or the president to go off the cliff, that's like betting your country. there's stupidity involved in that. this is big-time stuff. >> let me ask you about a report that some republicans now are perhaps willing to see the tax rates rise to some
are going to get paid back on some of that sunshine. we have a deficit in that. we'll get it back thursday, friday, saturday, sunday. we are not going to be warm, highs in the 60s. next week dry with cold nights and sunny but chilly afternoons. that's the cbs 5 forecast. >> thank you. >>> should california's mental health workers be allowed to try to make gay teenagers straight? the federal ruling today on conversion therapy. >> i enjoy doing this. giving back to the communities and kids. >> how bay area prison inmates are helping spread holiday cheer. ,, well, well, well. growing up, we didn't have u-verse. we couldn't record four shows at the same time. in my day, you were lucky if you could record two shows. and if mom was recording her dumb show and dad was recording his dumb show then, by george, that's all we watched. and we liked it! today's kids got it so good. [ male announcer ] get u-verse tv with a total home dvr included free for life. only $29 a month for six months. rethink possible. only $29 a month for six months. [ traffic passing ] ] ♪ [ music box: lullaby ] [ man on tv
. congressional republicans called it an insulting joke. here's the big picture-- $4 trillion of deficit reduction over the next 10 years. it includes $1.6 trillion in higher taxes on households make manage more than $250,000. there's also $400 billion in cuts to entitlement programs, like medicaid and medicare, as well as others. there is also fresh new aending. $50 billion next year in stimulus spending, all for infrastructure. the white house calls this an opening bid. house republicans call it a rehash of old ideas and also object to the idea of a white house asking a permanent legislative remedy to raising the debt ceiling, all of it, the republicans say rather, is unacceptable. now much of this was conveyed in a 28-minute phone conversation yesterday between president obama and house speaker john boehner. both sides describe that conversation, scott, as direct and candid. those are words custom early reserved for diplomacy between sworn adversaries and tonight that might be where we are. >> pelley: major, thanks very much. now, have a look at these two pictures. president obama and mitt romn
to deficit reduction that can help give businesses certainty and make sure the country grows. and unfortunately the speaker's proposal right now is still out of balance. he talks, for example, about $800 billion worth of revenues, but he says he's going to do that by lowering rates. when you look at math, it doesn't work. >> reporter: so unbalanced approach is the white house's nice way of saying you got to be kidding me. jay carney used the phrase in the briefing just now that the proposal from the republicans was a bunch of magic needs and fairy dust and the current standoff is continuing with neither side talking today, brooke. >> magic beans, fairy dust, la la land, it is laughable but not. it is serious stuff that affects every one of us come january 1st, 28 days to go. we know some of the reporting from dana bash on the hill, there are no formal talks going on. the president insists in speaking in this bloomberg interview, he does speak to speaker boehner all the time that the meetings are not what matter. what have you, jessica yellin what have you learned in your repo
, pay cut contributions will go from 4.% to 6.2%, that's $115 billion a year that will go to deficit reduction instead of being pumped into the economy. heidi cherholts is an economist. >> it's less money for consumers to spend that means the demand for goods and services will drop. who provides goods and services? workers. so employment will fall. >> reporter: those in favor of allowing the tax cut to expire argue money for social security payments has to come from somewhere. with although mejia says that somewhere will mean doing without some of the basics. >> might be a pair of sneakers. might be that jacket that they want to go to school with in the winter. might be those pair of boots that they want to go and keep warm. >> reporter: for john mejia, the debate in washington is not about the federal budget it's about his family's. jim axelrod, cbs news, west new york, new jersey. >> pelley: well, a lot of families with tight budgets will be happy to hear this next story: the housing market is coming back. we got a report today that says home prices in october had their biggest gai
, lebron, cuts the four-point deficit to one. under two minutes to go. wiz up two. kevin saraphin, the hook in the paint. wizards up four. ensuing miami possession. lebron, beautiful pass to dwyane wade for the lay-in. heat down two. miami down three, 6.9 seconds left. lebron, off the mark. and the wizards notch just their second win of the season. >>> let's go to the lone star state. lakers visiting the rockets. kobe, 52 points away from 30,000 for his career. only four other players have ever done that. pau gasol out with tendinitis in both knees. fourth quarter, rockets mounting a comeback. greg smith, the hoop. houston down one after the free throw. rockets up four. kobe bryant, takes the three and it's a one-point game. lakers led by double-digits in the fourth quarter. but l.a., down two. eight seconds to go. kobe, of course, with the ball. pulls the shoot on the three, off the mark. metta world peace, no good. anton jamison misses. l.a. falls to 8-10 on the season. its worst 18-game start since 1993. in the mid-'90s, 1993, james worthy and byron scott were still playing for
contributions will go from 4.2% to 6.2%. that's $115 billion a year that would go to deficit reduction instead of being pumped into the economy. heidi sherholtz is an economist. >> it's less money for consumers to spend, that means that the demand for business services will drop, who provides goods and services, workers, so employment will fall. >> reporter: those in favor allowing the tax cuts to expire argue money for social security payments has to come from somewhere. although john says that somewhere will mean doing without some of the basics. >> might be a pair of sneakers. >> reporter: might be a jacket. might be those pair of boots that they want to go there and keep warm. >> for john the debate in washington is not about the federal budget it's about his family's. jim axelrod, cbs news, west new york, new jersey. >> early this morning a tentative deal was reached to end the strike that shut down this nation's largest port complex. workers are expected to return to work this morning. clerks at the ports of los angeles and long beach, california had been on strike for eight days. the de
for the fanel to advance a deal with democrats to cut deficits but -- >> grover norquist drowns himself in a bathtub. after he hears that. >> he made me do it. >> stephanie: two of the republicans that vote most often against boehner. boehner is trying to control his caucus. >> i'll be really surprised -- >> stephanie: these two guys, whatever their names are they said despite sweeping changes to medicare and medicaid, paul ryan's budget didn't make deep enough cuts to entitlement. those guys. yeah, that wasn't quite mean enough. [ applause ] >> i would be surprised if boehner kept his leadership position in the next congress. >> stephanie: really? >> yeah. because he's not -- >> stephanie: i picture eric cantor rubbing his hands together like snidely whiplash. >> he can't keep the caucus together. the republicans are famous for staying together. he can't keep them together. >> flabbergasted! >> that's doing a bad job. >> stephanie: he's flabbergasted at his own caucus. [mumbling] >> stephanie: by the way doesn't
. not this president. when you look at the debt and deficits he run up. he run up more debt than all of the other presidents combined and maybe the republicans should let the president go ahead and sail off of the cliff and do it for the next generation. keep in mind, somebody may have to pay the bill it may be our children and our children's children. do we want to leave the country in better shape. >> gretchen: they will not have enough pennies in the piggy bank. moments ago kate middleton and prince william left the hospital. she was admitted on monday after suffering from acute morning sickness. kate was treated by the queens doctors. she is headed to kensington palace where she will rest for a extended time. the rogue nation of syria has begun mixing chemical weapons and loading them in to bombs. it is raising fears that president assad will use them on his own people. >> if he would drop the gas, it would kill 100,000 people immediately and in damascus a million people could be affected. it is very serious. >> gretchen: fox news learns that the military drawing up contingency plans in case
that resulted in this enormous deficit, because in the 199os, we had a $5.6 trillion surplus. what the president is trying to do is to give relief to working people, and as well provide revenue to continue to support the needs of this nation. such as mayor bloomberg, who's just come to washington and asked for an enormous amount of money, rightly so, to help those who've been victims of hurricane sandy. so the president is not in any way suggesting that he's not willing to negotiate. he asked the questions, when are the republicans going to be considerate of those who get up every day and work? or those who need medicare or social security and medicaid? that is what the bottom line is for the president and for democrats, to protect benefits in a reasonable manner, and to ensure that we have the revenue to bring down the deficit and to continue to operate in the needs of the american people. >> i'd like to talk about those entitlement programs because i know that this is very near and dear to your heart. the lion's share of the $400 billion in cuts are expected to come from medicare and possibly
debt and deficits a lot smaller by comparison because you get more government revenue. you're right, it is absolutely a core principle of republicans we don't want taxes to go up to get more government. if we have tax reform effort that will lower the tax base, get more revenue and fuel economic growth that is something republicans will embrace. there could be revenue generated by closure of loopholes and deductions. we can't accomplish anything by raising tax that is good good for the economy and we're very concerned about the economy. martha: it will be interesting to see what timothy geithner brings to these discussions today. we'll be reporting on it and you will be there on the hill. thank you very much. >> we'll look forward to it. thanks, martha. martha: all right. bill: there is a controversial vote set to take place today at the united nations and the u.s. is expected to vote against it. eric shawn's live at the u.n. eric, good morning to you, what is the vote about first of all and what's expected to happen? >> reporter: good morning, bill. the vote on the palestinians, a
. >> deficit gabor supplies is expected to make its final decision on the to dry banyan on nudity. plenty of people will be on hand today as a surprise meeting. and many will oppose the ban, a plan to strip down the meeting. it would not be the first time. last month the board initially approved the ban on nude with a narrow 65 vote. several people took off their clothes and protests. if the ban is finalized, it would take effect on february 1st. i was start on that-that at one under dollars and go up with each additional fence. >> this is a live picture of where the munies' in line goes on the ground. commuters please take note this morning we will be right back. bareback with national news at 4:25 a.m.. the proposal was rejected by the white house. it would reportedly shave one and two trillion out on the deficit over the next decade the proposal includes cuts from programs like medicare and pulsating star tax reform. in a statement white house official said the plan is a fair and balanced as the middle class with the bill. president obama has said any deal must raise taxes on the wealt
warned that he won't meet his deficit targets for austerity will have to continue. we expect higher taxes on the rich tomorrow, cuts in public spending, and in this environment the multinationals like google, amazon, starbucks, are very firmly in the firing line. after all what better than to attack big corporate america. and they're being told, smell the coffee. i can play that game, too, michael. >> wake up and smell the coffee. always good to see you, mr. quest. always making it simple for us. richard quest in london. probably didn't pay for that coffee. >>> over the weekend, the palestinians celebrated their new status recognized by the united nations. the joy short-lived. how israel's decision to pursue even more settlements in the west bank and east jerusalem may kill any hopes of peace. we'll dive deep lie into this issue. >>> rp says it's not changing plans for the controversial housing development in east of jerusalem also developments in east jerusalem. this is despite getting a diplomatic mackdown recently from australia, five european countries and the united states bought in
of this deficit problem. we are going to need more revenues. in order to do that that start with higher rates for the folk at the top. the reasonien, the reason i say that is not to punish success or go after folk just because they are wealthy. it's a simple proposition that you can't raise enough revenue and if you don't raise enough revenue through closing loopholes abductions, it's going to be middle class families that make up the difference. bill: john boehner will speak later this hour. we'll see how he responds to that comment. if washington can't get a deep, automatic tax increases and massive spending cuts do take effect. martha: west virginia senator joe manchin, a democrat discussing the fiscal cliff, social security within medicare. he believes they must be run more efficiently. >> last year the office of budget management says $115 billion was misspent. that's a tremendous savings right there. they are both much lower than everyone says we need. all economists say we need a minimum of $4 trillion or greater swing. that means a combining of many things. i think both of them are in
. so we're going to be in the 20s as far as deficits going forward. i think they're taunting markets. i'm hoping we don't wake up one day and markets look at what is going on here and fire right back at them. tracy: you know what? you're not wrong. that is going to happen. between that and the bond bubble bursting we have a lot to look forward to in the new year. gary kaltbaum, kaltbaum capital management. >> my pleasure, thank you. ashley: every deal is a scam, a shell game and he's right. tracy: yeah. ashley: guess what? banks are bouncing back. the third quarter proving very profitable for some of the industry's biggest names but are we out of the woods just yet? gerri willis joins us ahead to talk about that. tracy: first as we do every day at this time of day look how oil is trading. it is basically flat. $88.82 a barrel. we'll be right back. ashley: it is time to make money with charles payne. this hour we're looking at pet health specialists pet med express. charles, how fat is joe is the question? tracy: ah, fat joe. >> fat joe. i told tracy, i don't know if i told you about a m
in these negotiations or in terms of reducing this $1.1 trillion deficit if you don't do something about these entitlements. so everyone's kind of waiting, when will the president come forward with those recommendations? >> if i could just jump in really quick, one of the problems with entitlement cuts is they don't produce a lot of savings in the first ten years. >> that's true. that's true. >> a lot of the things ryan proposed are going to be phased in gradually. if we're going to be obsessively focused on the ratio between revenue and spending, then republicans are going to be in for some disappointment because all the things they want on entitlements basically phase in. this is consistent what they said about not wanting to change things for people over 55. and the fact that even paul ryan and mitt romney ran away from entitlement cuts in paul ryan's budget in the last election i think is a sign of where the american public is. they do want the rich to pay their fair share in taxes, but they really don't like a lot of the entitlement cuts. >> that's a fair point. that's a fair point.
on the side. that was his look back in the day. critics are saying there is a deficit resemblance. i'll let you be the judge of that. this biopic has just been announced as the closing night film for the sundance film festival in january. it's calling the movie, quote, the true story of one of the greatest entrepreneurs in american history which chronicles the defining 30 years of steve jobs' life. it says it's, quote, candid, inspiring and personal. this is actually one of two movies coming out about steve jobs who died just a little over a year ago. aaron sorkin's writing a different movie based on the best-selling biography by walter isaackson. for now, ashton kuchar is the man and christine and zoraida, some people are questioning the casting of ashton as jobs. mostly because he's known for comedy. but you know, he's also famously tech savvy. he got out ahead of the curve on twitter. he now has 13 million followers plus. he's entrepreneurial, too, he has his own movie production company, all kinds of business ventures. maybe it's not so much of a stretch to see ashton as steve jobs. bac
there a long time 1.6 trillion over the next years, cutting the deficit, 1.6 cutting the tax cuts for the wealthiest for americans, and medicare and medicaid and farm subsidies and other, $1 trillion in additional spending cuts that the house, the senate and the white house have already agreed to and then $800,000,000,000 in new spending new revenue from cuts and spending because of ending the war in iraq and in afghanistan. the president's budget is out there. on the republican side, there is nothing. i am going to get back to it. here it is, also guy in the way is boehner. you have heard me say this, that boehner is not a bad guy. i used to think that and if you let him go, he would make a deal. i don't believe that any more. i think boehner is out to -- he doesn't care about the middle class, and his goal is to let this country go over the fiscal cliff because he wants the economy to fail because he wants president obama to fail. john boehner, again, i think the worst speaker ever, it's a time for leadership, not for playing political games. americ
to cut government services than raise taxes to reduce the federal deficit. >> if the nation goes over the cliff at the end of the year it is going to affect everyone including the unemployed as abc's jonathan karl reports. >> reporter: melinda vega has been put on notice. if congress and the president don't get their act together, her unemployment checks will stop immediately at the end of the year. >> we're dependent on that money to pay the bills. she has been what a job for a year. her $450 a week unemployment check her life line. >> we won't be able to pay some of our bills and, i mean, you know, that's for christmas and things of that nature, probably off the table. >> reporter: she is not alone. without a deal, unemployment compensation will end for more than 2 million people out of work more than 26 weeks. many of the unemployed started receiving the news this week from prerecorded phone calls like this one in washington state. >> emergency unemployment compensation shuts off end of the december unless congress votes to extend the program. >> reporter: and of course, going off
. but the other thing is remember this continued tax cut for the middle class is part of a deficit reduction package so the president is very much focused on getting rid of that debt and getting it off the backs of our kids but in the meantime, it is not necessary to raise tax rates on the middle class in order to get there. and if we did raise taxes on the middle class, it is not going to get us that far down the road. what will really get us down the road is getting back to the regular tax cuts, having the wealthiest of americans pay their fair share. letting the 2% go back up from 35% to 39% which they were under bill clinton. one final my2k story from doug up in vancouver washington. what do you say? >> caller: hey bill. let me put my bong down real quick here. [ laughter ] >> caller: you know, there is a certain bunch of us here that think that they're going to get us on entitlement. that's all they keep talking about. nobody's mentioning the military. so i'm with the other caller, the gal before that said let's go over t
cliff and will it involve significant deficit reduction. the president said i thought twitter was supposed to be fun. where are all of the crazy video. twitter boring. >> gretchen: it is an interesting concept instead of spending time twittering why not go and lead the discussion between the parties. >> steve: or the president went golfing three or four times . it would be great if he went golfing with john boehner. >> gretchen: as hong as they don't ask. here are the headlines. a scare for franky muniz who rose to fame for malkare olm in the middle. >> it is the video . desense -- desensitized to violence. how many have you had. >> gretchen: the 26 year old recovering after suffering from a min i stroke. they are awaiting results. they noticed that nuniz had trouble understanding word and speaking. >> brian: he has to take better care of himself. >> steve: meanwhile, a mother could face crimminal charges if she doesn't bring her daughter back to the hospital. cops are searching for 11 year old emily who suffers from leukemia. her mom removed her iv and snuck her out of the ar
that republicans do not believe this is the right path to cutting our deficit, into promoting economic growth, boehner says. they do not want to raise tax rates. on wealthy americans or any american. i was outside a meeting that the republican leaders had with the rank and file members yesterday, speaking to member after member after they were leaving their meeting. there's often quite a break from the leadership and rank and file. they have given john boehner trouble in the past but at this point, they are giving him some lee way and they seem to be rallying around the speaker and his negotiations at this point. there's no budging on either side. >> they said there was a lot of support there. president obama said i'm sticking to my guns also. the president is warning the republicans next move will be to use the upcoming vote on the debt ceiling as leverage in the budget battle. let's listen. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation, which by the way we have ne
. and that is, we must ask the wealthy to pay a little more so we can get these deficit eliminated. get our debt paid down and start growing the economy again. that's not unusual or new to any of us. nobody in the country. so i think the president is sticking to what he said throughout the campaign and as i said 3 million more people voted for him than voted for the other guy. >> with that said, on taxes, if there's any chance on your side, is there any chance on your side to come down to the form of a smaller tax hike on incomes above $250,000 or would you consider keeping rate it is same at $250,000 and raising them only on higher incomes, say half a million or $1 million a year? >> i think it's all part of the negotiations. we know where the president is and that is 250,000. but there are a lot of democrats who voiced back before the campaign 500,000, some say even a million. all of that is going to be negotiated. the president wants 250. if mr. boehner wants to come and offer something different, i'm sure he will do that. but the president stands at 250. which is below even where i was but h
should be because part of the deficit problem, a great part, is entitlements, social security and medicare, keep adding fiscal burdens as people's live expectancy increases and it's great that people are living longer but when social security was first thought of the life expectancy was only 67. now it is around 85. we need to raise retirement ages or somehow thinking about cutting back on benefits to keep the programs in balance. ashley: diana, the other side of this issue is coming down to taxes. two years ago the president said he didn't want to let taxes go up because gdp growth was so low. how can you make that argument two years later today. gdp still struggling to get any traction? >> he should be making that argument because gdp growth is now at 2%. it was at 2.5 when he made the argument in 2010. there was even more reason not to get tax rates higher, not to allow them to go higher. the only way we'll get out of this fiscal mess is through more economic growth. and if we raise tax rates that is going to stifle economic growth. we need to be keeping tax rates the same
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